HE Group Bhd’s RM0.985 Rebound Setup Points to RM1.03, Then RM1.08

By Daniel Okafor

HE Group Bhd trades around RM0.985 after a correction from a recent high near RM1.17, according to TradingView chart author Orkhestra. His setup makes RM1.03 the first resistance test. RM1.08 is the next possible level if that resistance breaks.

Orkhestra's chart reference points are:

• Recent high: around RM1.17
• Current trading level: around RM0.985
• First buy zone: 61.8% Fibonacci retracement
• First resistance area: RM1.03
• Possible post-breakout level: RM1.08
• Second buy zone: 88.6% Fibonacci retracement, aligned with the ascending trendline

What does the pullback from RM1.17 mean?

Orkhestra calls the current move consolidation. He said: "The previous bearish move resulted in a market structure shift (MSS), indicating a change in short-term momentum."

His setup treats the recent drop as a change in momentum. The ascending trendline keeps the broader rebound case in place for now. His analysis rests on price and chart structure. It adds no company financial data, valuation, or fundamental catalyst.

Where is the first buy zone?

Orkhestra places the first buy zone at the 61.8% Fibonacci retracement. Price around RM0.985 provides the current reference. He describes a potential reaction, not a confirmed reversal.

He expects a potential reaction there before continuation toward RM1.03, which he identifies as the first resistance area, making the retracement the trigger for the next leg of the proposed recovery. The path has two steps. First, price would react at the retracement. Second, continuation would move toward RM1.03 resistance.

What does a break above RM1.03 change?

A successful breakout above RM1.03 could open the way to RM1.08, according to Orkhestra. He presents RM1.08 as a conditional next level. The RM1.08 figure is neither a guaranteed destination nor a stated price target.

RM1.03 serves as the setup's practical checkpoint: holding below it leaves the higher scenario inactive, while trading above it meets Orkhestra's stated condition for the move toward RM1.08.

Where is the backup entry area?

If the first buy zone fails to hold, Orkhestra moves to the 88.6% Fibonacci retracement, where the second buy zone aligns with the ascending trendline and offers another location for a potential reversal.

Orkhestra calls the 88.6% area the next point of interest and looks for a potential reversal there. Failure of the first zone would shift attention to that setup. The trendline overlap gives it an added technical reference.

How does the trade case work?

The chart separates location, momentum and confirmation: the 61.8% retracement is the first location, RM1.03 and RM1.08 define the upward path, and the 88.6% retracement is the alternative if the first location fails.

Orkhestra also places the larger condition on the broader ascending trendline. He wants bullish confirmation around either buy zone before considering an entry. The sequence links a short-term momentum shift to a possible rebound, then requires bullish confirmation around one of the two zones before Orkhestra would consider an entry.

What would confirm an entry?

Orkhestra's final condition is explicit. He said: "HEGROUP remains interesting as this stock rebound after sharp drop and as long as the broader ascending trendline holds. I'll be watching for bullish confirmation around either buy zone before considering an entry."

He does not define bullish confirmation with a separate price trigger in the chart. The stated test is broader. Price must react around either the 61.8% or 88.6% retracement. The wider ascending trendline must continue to hold.

What is the near-term focus?

RM1.03 carries the clearest checkpoint because it separates consolidation from the proposed continuation toward RM1.08, while the recent RM1.17 high defines the reference point behind the correction. RM0.985 and the 61.8% retracement frame the first potential reaction area. RM1.17 remains the reference high behind the correction.

For traders monitoring the second route, failure at the first zone brings the 88.6% retracement and ascending trendline into focus. Orkhestra's posture remains conditional rather than predictive. He wants confirmation around either setup before taking an entry.

Under Orkhestra's framework, the next decision comes from price behavior at those levels, not from a new fundamental claim. A hold and reaction at the first zone could support RM1.03; failure redirects attention to the 88.6% area, while RM1.08 remains conditional on breaking RM1.03 and the broader ascending trendline holding.